Zillow Group, Inc. (ZG) – What Are Analysts Thinking About This Stock?

Zillow Group, Inc. (NASDAQ:ZG) has been assigned an average recommendation of “Hold” from the twenty-three ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $51.19.

A number of brokerages have issued reports on ZG. Deutsche Bank Aktiengesellschaft set a $80.00 price target on shares of Zillow Group in a research note on Monday, August 24th. JPMorgan Chase & Co. lowered their price objective on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating for the company in a research note on Tuesday, August 11th. Wells Fargo & Company set a $21.00 price objective on shares of Zillow Group in a report on Monday, October 12th. Canaccord Genuity Group cut their target price on shares of Zillow Group from $52.00 to $40.00 and set a “hold” rating on the stock in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $55.00 target price on shares of Zillow Group in a research note on Friday, September 11th.

Insider Buying and Selling

In other Zillow Group news, CFO Jeremy Hofmann sold 5,661 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $193,492.98. Following the completion of the transaction, the chief financial officer owned 59,144 shares in the company, valued at $2,021,541.92. The trade was a 8.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO David Beitel sold 1,798 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $34.24, for a total value of $61,563.52. Following the sale, the chief technology officer directly owned 133,013 shares in the company, valued at $4,554,365.12. This represents a 1.33% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 38,539 shares of company stock worth $1,323,800 over the last three months. 29.88% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Technology Crossover Management XI Ltd. acquired a new stake in Zillow Group in the 2nd quarter valued at about $73,694,895. Independent Franchise Partners LLP boosted its stake in shares of Zillow Group by 1.1% in the 4th quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock valued at $138,135,000 after buying an additional 21,862 shares during the period. Kahn Brothers Group Inc. purchased a new position in shares of Zillow Group in the 2nd quarter valued at about $37,265,000. Dimensional Fund Advisors LP grew its position in shares of Zillow Group by 18.2% during the first quarter. Dimensional Fund Advisors LP now owns 554,460 shares of the technology company’s stock worth $22,947,000 after buying an additional 85,367 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Zillow Group by 724.4% during the third quarter. Assenagon Asset Management S.A. now owns 406,398 shares of the technology company’s stock worth $11,257,000 after buying an additional 357,104 shares in the last quarter. 20.32% of the stock is owned by institutional investors and hedge funds.

Zillow Group Stock Down 1.7%

ZG opened at $31.88 on Tuesday. Zillow Group has a 52 week low of $27.25 and a 52 week high of $76.32. The business has a fifty day simple moving average of $32.53 and a 200-day simple moving average of $35.34. The firm has a market cap of $7.17 billion, a P/E ratio of 144.92, a P/E/G ratio of 1.39 and a beta of 2.02.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. The business had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $758.25 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The company’s revenue was up 17.9% on a year-over-year basis. Sell-side analysts expect that Zillow Group will post 0.89 earnings per share for the current year.

About Zillow Group

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms designed to help consumers buy, sell, rent and finance homes. Founded in 2006 and headquartered in Seattle, Washington, the company serves the U.S. residential real estate market through a portfolio of well-known brands.

Its flagship Zillow platform provides home listings, property information, estimated home values through its Zestimate tool, rental listings, mortgage resources and connections to real estate professionals.